Key Points
- Joby Aviation CFO Rodrigo Brumana sold 37,831 shares at an average price of $6.77, generating approximately $256,116. The sale was made under a Rule 10b5-1 plan to cover tax withholding, leaving him with 119,729 shares.
- JOBY shares opened at $6.87 and remain near their 52-week low of $6.61, with a market capitalization of approximately $6.8 billion. The company reported a quarterly EPS loss of $0.25, although revenue of $38.64 million exceeded analyst estimates.
- Analyst sentiment is mixed, with two Buy, four Hold, and three Sell ratings; the stock has an overall “Reduce” rating and an average price target of $13.81. Institutional investors and hedge funds own 52.85% of Joby’s shares.
Joby Aviation, Inc. (NYSE:JOBY - Get Free Report) CFO Rodrigo Brumana sold 8,898 shares of Joby Aviation stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $6.89, for a total transaction of $61,307.22. Following the completion of the sale, the chief financial officer owned 110,831 shares of the company's stock, valued at $763,625.59. This trade represents a 7.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rodrigo Brumana also recently made the following trade(s):
- On Wednesday, September 2nd, Rodrigo Brumana sold 37,831 shares of Joby Aviation stock. The stock was sold at an average price of $6.77, for a total transaction of $256,115.87.
- On Thursday, July 2nd, Rodrigo Brumana sold 2,601 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total transaction of $23,200.92.
Joby Aviation Stock Up 0.7%
Shares of JOBY opened at $6.87 on Friday. The company has a current ratio of 17.98, a quick ratio of 17.98 and a debt-to-equity ratio of 0.40. Joby Aviation, Inc. has a 12 month low of $6.61 and a 12 month high of $19.98. The firm's 50 day moving average is $7.73 and its 200-day moving average is $8.99. The stock has a market capitalization of $6.80 billion, a PE ratio of -6.94 and a beta of 2.68.
Joby Aviation (NYSE:JOBY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.02). The company had revenue of $38.64 million during the quarter, compared to the consensus estimate of $30.20 million. Joby Aviation had a negative net margin of 755.11% and a negative return on equity of 55.29%. The company's quarterly revenue was up 257493.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.41) earnings per share. Equities research analysts forecast that Joby Aviation, Inc. will post -1 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on JOBY. Wall Street Zen downgraded Joby Aviation from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 8th. Needham & Company LLC decreased their price target on Joby Aviation from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Thursday, August 6th. HC Wainwright reaffirmed a "buy" rating on shares of Joby Aviation in a research note on Thursday, August 6th. Canaccord Genuity Group dropped their price target on Joby Aviation from $15.50 to $11.50 and set a "hold" rating for the company in a research note on Thursday, May 7th. Finally, Weiss Ratings raised shares of Joby Aviation from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $13.81.
Read Our Latest Report on JOBY
Institutional Trading of Joby Aviation
Several institutional investors and hedge funds have recently modified their holdings of JOBY. EP Wealth Advisors LLC boosted its stake in Joby Aviation by 2.2% in the second quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company's stock valued at $403,000 after buying an additional 821 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Joby Aviation by 38.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company's stock worth $56,000 after acquiring an additional 1,188 shares during the last quarter. Strs Ohio lifted its holdings in shares of Joby Aviation by 2.5% in the first quarter. Strs Ohio now owns 50,000 shares of the company's stock worth $413,000 after acquiring an additional 1,200 shares during the last quarter. Scotia Capital Inc. boosted its stake in shares of Joby Aviation by 8.1% in the 3rd quarter. Scotia Capital Inc. now owns 16,663 shares of the company's stock valued at $269,000 after purchasing an additional 1,250 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Joby Aviation by 23.3% in the 3rd quarter. Parallel Advisors LLC now owns 6,845 shares of the company's stock valued at $110,000 after purchasing an additional 1,295 shares in the last quarter. 52.85% of the stock is currently owned by institutional investors.
Joby Aviation Company Profile
(
Get Free Report)
Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company's core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby's eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.
The company's flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.
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